i use WinX DVD Ripper Platinum. It is basically idiot proof. And its cheap. There are different versions but they all work the same. (DVD, BlueRay, etc) It lets you pick high quality vs smaller file size depending on your needs with just 1 or 2 drop downs. My library is up over 1300 movies now.
That 100% depends on your computer. On my older laptop about 30-40 min. On my new one 10-15. but it also depends on the length of the movie a d the quality you pick.